ISLAMABAD - Federal Minister for Planning, Development & Reforms Makhdoom Khusro Bakhtiar Thursday stressed upon the industrialists to bridge the industrial divide between Pakistan and China by initiating joint ventures in various sectors including manufacturing, services, construction, agriculture and energy.

China Pakistan Economic Corridor is graduating from start-up phase to a more mature period in its development, Makhdoom Khusro Bakhtiar said while addressing the ‘CEO Summit Islamabad’ and book launch of ‘100 performing CEOs and Companies of Pakistan 2018’, organised by CEO Club Pakistan in collaboration with Planning Commission, Board of Investment and Privatization Commission here.

The minister underlined that the scope and base of CPEC is broadening and deepening adding that the mega project has the potential to spur GDP growth and transform Pakistan into a regional economic hub. He stressed upon the industrialists to bridge the industrial divide between Pakistan and China by initiating joint ventures in various sectors including manufacturing, services, construction, agriculture and energy.

He said that in today’s world there are essentially three pillars sustaining any nation building process,  the government, civil society and business, adding that it is only when these three work together in unison that a nation moves forward and progresses.

The minister said that the government is aware of the challenges being faced by the business community and is taking all possible measures to provide them an enabling environment to grow and contribute to national economy.

Khusro Bakhtiar stated that the government’s primary role is to act as facilitator for sustainable and responsible business to flourish. He said that as the government moves towards reforming the economy, it expects the private sector corporations to step up and partner with the government in redefining Pakistan’s future. The minister added that the private sector’s potential to contribute to the treasury’s domestic revenues is critical for meeting the government’s developmental goals by financing essential public goods and services.

The minister noted that major roadblocks to growth have been the historically low private investment, little or no investment by business in R&D and domestic operations. Pakistani businesses need to step out of their comfort zones and invest in acquiring latest technology, business practices to become competitive at regional and international level and employing our growing youth bulge in value added industries of the future especially science and technology.